Export-Import Bank of India pays 48 crore of its net profit to government.

25-July-2014
Export-Import Bank of India pays 48 crore of its net profit to government.

MUMBAI: Export-Import Bank of India ( Exim Bank) announced here today it has paid 48 per cent of its net profit to the government for the previous fiscal.

"We transferred Rs 339 crore to the government, representing a balance of net profit for the financial year ended March 31, 2014," the bank said in an official statement.

For the full year, the bank had made a post-tax profit of Rs 710 crore. In the last five years, the bank transferred Rs 1,142 crore as balance of net profit to the government.

Exim Bank's principal objective is to finance export of projects, products and services from the country through a variety of financing programmes, including lines of credit to overseas entities and buyers' credits to overseas importers.

Source : economictimes.indiatimes.com

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